Berman & Asbel, LLP

Same-sex couples and divorce: Financial concerns

When a same-sex marriage begins to falter, Pennsylvania spouses often feel the need to make preparations in case the union ends in divorce. This instinct is understandable, as the financial ramifications of divorce can be life-altering, no matter the gender of the spouses involved. Regardless of whether a divorce is the eventual outcome or not, there are several wise steps related to same-sex couples and divorce that spouses can, and should take to get their financial houses in order.

The first step involves improving one's recordkeeping practices. Spouses should track their own spending needs in order to have a working budget of their living expenses. This can be important in the event that it is necessary to ask a court for spousal support. It also serves to enlighten that spouse on the income that he or she would need to sustain their lifestyle as a single person, which could help structure the negotiation portion of a divorce process.

Another tip involves seeking legal guidance. A divorce attorney can sit down with a concerned spouse and outline the Pennsylvania divorce process. In addition, he or she can answer any specific questions and address particularly complicated issues. Spouses should not feel ashamed of seeking out advice concerning a potential divorce filing; doing so makes sound financial sense.

When it comes to Pennsylvania same-sex couples and divorce, it is never too early to prepare. There is also no such thing as being over-prepared. Even if the marriage does not ultimately end in divorce, improving one's financial planning is always a savvy decision.

Source: Fox Business, "4 Financial Steps to Take if You're Considering a Divorce," March 12, 2013

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